Aluworks Limited

15

Aug

2011

Imports From China Killing Local Ghanaian Industry PDF Print E-mail

Remedial measures for this situation that is plaguing our country (and indeed West Africa) are extremely important to implement. Simply because the situation seriously threatens the continued existence of manufacturing industry in Ghana.  The Textiles, the Printing, and now the Aluminium industries are already threatened and in danger of folding up, and laying its workers off. Some FMCG companies have also complained about cheap and shoddy goods threatening their livelihood.

It is instructive and really interesting that the following countries faced with exactly the same situation have already taken decisive action.

They have imposed varying degrees of countervailing measures to combat the DUMPING of aluminium products by China into their countries. The additional tariffs imposed are designed to level the playing field by increasing the cost of Chinese imports to fair competitive levels. The US has imposed additional tariffs of +59.31%; Canada has imposed additional tariffs of +179% of shipment value; India has imposed +12-14%; and Australia +16% (see the WTO website). These are strong countries. Even they have had to impose countervailing tariffs! What are we in Ghana (and Nigeria for example), such small countries that cannot withstand the might of the Chinese DUMPING, what are we doing? Are we going to sit and moan while we slowly die? In fact it is the industry that is complaining, the rest only spout ‘book-long’ stuff, while we slowly die.

This is a topic that engenders a lot of discussion, a lot of it from an emotional standpoint, hence this article to present reality, and views of the facts, to enrich the discussion. I obviously believe this is very relevant to our continued well being in Ghana and hence my continued interest in generating thorough discussion. This is important because the growth of Ghana is at risk if we get this wrong.

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